Independent Bank is a Michigan-based community bank holding company whose sole operating subsidiary is Independent Bank, a community bank founded in 1864 and headquartered in Grand Rapids. Independent Bank operates 56 branches across the lower peninsula of Michigan, serving individuals, businesses, and municipalities. The bank's core products include commercial loans (C&I and investment real estate), retail banking (checking, savings, residential mortgages, and consumer installment loans including marine and RV lending), and mortgage banking (origination and sale of residential mortgages into the secondary market). The bank earns money primarily through net interest income — the spread between loan and investment yields and deposit costs — with interest and fees on loans accounting for roughly 76% of revenue. Management has been deliberately shifting the asset mix toward higher-yielding commercial loans, which now represent roughly half the loan portfolio, and away from lower-yielding consumer and mortgage balances. The bank funds its loan portfolio primarily through core retail, commercial, and municipal deposits, which are cheaper than wholesale funding. Non-interest income, roughly 15% of revenue, is driven by mortgage gain-on-sale and servicing fees. Independent Bank's growth strategy centers on organic commercial loan growth, supported by systematic hiring of experienced commercial bankers — particularly in Metro Detroit, where regional bank consolidation is creating recruiting and customer acquisition opportunities. The bank's last acquisition was Traverse City State Bank in 2018, though management remains open to selective M&A with other Michigan community banks.